House price crash? not where I'm looking....

jmt

I bought a 1 bed flat in Sept 2007 for £77,000 (at the peak) and have been worried over the last few months about negative equity but after talking to the local EA last weekend I was told that a flat in my block is now SSTC for just under asking price of £94,950, so I am beginning to think that the HPC is not nationwide - some areas are bucking the trend :undecided

NeilYoung

You sure that flat is also a 1 bedroom?

jmt

NeilYoung wrote: »

You sure that flat is also a 1 bedroom?

Yes, it is ground floor (with own front door) and looking a the EA pictures it has the same original kitchen and bathroom, so no updating.

Mexas

Where is this flat?

jmt

Mexas wrote: »

Where is this flat?

A town in West Yorkshire - but I don't want to give full details as I would be giving away my address as there are very few flats for sale within a 5 mile radius.

PasturesNew

So, some random stranger on the Internet tells us something - and we have to believe it.

You should collect the email addresses of those that do, you could make a killing from a list of gullible people.

jmt

PasturesNew wrote: »

So, some random stranger on the Internet tells us something - and we have to believe it.

You should collect the email addresses of those that do, you could make a killing from a list of gullible people.

I can see your point, but would you be happy to give out your postcode?

openside

Its certainly crashed from where Im looking

Kingston Surrey

People I know who's house was worth just under £500k 2 years ago (as in thats what they were selling for, sold very quickly too) have now had their house on the market for 6 months with no interest at all and have just dropped the asking price to £380k

The wife has lost her job and he thinks he could be laid off anytime soon too, her from an estate agents! (5 out of 7 have closed in our high street) he's in construction

Gorgeous_George

SSTC is not sold.

I believe that cheaper areas up North are not hit as hard as the South because property did not hyper-inflate up there as it did down here. Maybe it's because Northerners are not as daft as Southerners or maybe because they work harder for their money.

GG

Mobeer

I think concluding that "HPC is not nationwide" because one property sold at somewhere just under the asking price is perhaps extrapolating a bit too far. Perhaps "HPC is not true of every single property sale occurring in the UK" might be more reasonable?

PasturesNew

jmt wrote: »

I can see your point, but would you be happy to give out your postcode?

Yeah, most of us here have done at some point.

Put me down as a CF15.